Cairn Energy (CNE)

Sector:

Energy Producers

Index:

FTSE 250

174.60p
   
  • Change Today:
      2.60p
  • 52 Week High: 212.74p
  • 52 Week Low: 125.45p
  • Currency: UK Pounds
  • Shares Issued: 499.27m
  • Volume: 1,693,476
  • Market Cap: £871.72m
  • RiskGrade: 219

Cairn Energy gets nod to seize €20m of Indian assets - report

By Sean Farrell

Date: Thursday 08 Jul 2021

LONDON (ShareCast) - (Sharecast News) - Cairn Energy has been authorised to seize more than €20m of Indian state assets in France in a long running tax dispute, according to a report.
A French tribunal froze about 20 properties in central Paris at Cairn's request. The Indian government will seek "legal remedies" when it receives notice from the French court, the BBC said.

The oil and gas group is in dispute with the Indian government over a retrospective tax bill that involved India's tax office to seize a 10% stake in operations Cairn was trying to sell. An international tribunal awarded Cairn $1.7bn in costs and damages in December but India has appealed.

Cain said it wanted an amicable settlement to the dispute. But it has been identifying assets it would seize in the absence of a settlement including some that belong to Air India.

David Nisbet, Cairn's corporate affairs director, told the BBC's Today programme: "Clearly what we want to do is find an agreed amicable settlement with the government of India. But this is all just part of a process of saying: 'Look, India, we need to earnestly engage', but we also have a fiduciary duty to protect the rights of our shareholders."

More than six months after the international tribunal ruling, India has not said it will honour the decision despite two sets of talks in Delhi, Nisbet said.

Cairn Energy shares rose 1.3% to 151.99p at 12:34 BST.



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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Cairn Energy Market Data

Currency UK Pounds
Share Price 174.60p
Change Today 2.60p
% Change 1.51 %
52 Week High 212.74p
52 Week Low 125.45p
Volume 1,693,476
Shares Issued 499.27m
Market Cap £871.72m
RiskGrade 219

Cairn Energy Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
14.14% above the market average14.14% above the market average14.14% above the market average14.14% above the market average14.14% above the market average
2.5% below the sector average2.5% below the sector average2.5% below the sector average2.5% below the sector average2.5% below the sector average
Price Trend
39.64% below the market average39.64% below the market average39.64% below the market average39.64% below the market average39.64% below the market average
26.88% above the sector average26.88% above the sector average26.88% above the sector average26.88% above the sector average26.88% above the sector average
Income Not Available
Growth
14.03% above the market average14.03% above the market average14.03% above the market average14.03% above the market average14.03% above the market average
50.94% above the sector average50.94% above the sector average50.94% above the sector average50.94% above the sector average50.94% above the sector average

What The Brokers Say

Strong Buy 6
Buy 0
Neutral 5
Sell 1
Strong Sell 0
Total 12
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Cairn Energy Dividends

  Latest Previous
  Special Interim
Ex-Div 11-Jan-21 n/a
Paid 25-Jan-21 n/a
Amount 32.00p 0.000¢

Trades for 21-Sep-2021

Time Volume / Share Price
16:35 426,898 @ 174.60p
16:29 600 @ 174.20p
16:29 378 @ 174.10p
16:29 320 @ 174.30p
16:29 613 @ 174.20p

Cairn Energy Key Personnel

CEO Simon Thomson
CFO James Smith

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